(Corrects paragraph 2 to remove erroneous reference to bookbuilding process; corrects paragraph 6 to show membership of Prime segment is to come; adjusts wording in paragraph 1)
(Reuters) - EuroTeleSites AG made its Vienna stock market debut at 4.31 euros on Friday, as Austria's leading telecommunications firm A1 Telekom Austria spun off its radio towers business to concentrate on its core business.
A1 Telekom Austria on Thursday set a reference price for EuroTeleSites AG of 4.95 euros ($5.26) per share.
A1 Telekom Austria spun off the business to focus on its core business, including plans to expand optical fibre. In the process, A1 Telekom Austria is getting rid of one billion euros of debt, which is transferred to EuroTeleSites AG.
EuroTeleSites AG operates in six countries in Central and Eastern Europe. Last year it achieved a turnover of 232 million euros and earnings before interest, taxes, depreciation and amortization (EBITDA) of 127 million euros.
A1 Telekom Austria shareholders were offered one EuroTeleSites AG share for every four held in A1 Telekom Austria.
EuroTeleSites AG, which is to become the latest member of the ATX Prime market segment, was down 9.09% at 0751 GMT, while A1 Telekom Austria's stock was up 1.71%.
($1 = 0.9399 euros)
(This story has been corrected to say membership of Prime segment is to come in paragraph 6)